Patterns: BTC/USD, ETH/USD
BTC/USD 4H Chart: Bullish sentiment
The Bitcoin cryptocurrency has appreciated about 29.27% in value against the US Dollar since July 29.
The currency pair was trading above the weekly R1 at 11667.6 during the morning hours of Friday's trading session.
Most likely, the BTC/USD pair could continue its bullish momentum during next week's trading sessions.
Although, it is expected that the pair makes a brief retracement towards a support cluster formed by the 200– period simple moving average and the monthly pivot point at 10822.2 in the short-term.
ETH/USD 4H Chart: Moving towards target
The Ethereum cryptocurrency has been trading in a horizontal channel against the US Dollar since mid-July.
The currency pair reversed from the upper band of the channel at 240.03 on August 5 and gradually moving towards the lower boundary of the horizontal channel at 208.60.
Everything being equal, it is likely that the ETH/USD pair could continue moving sideways in the nearest future.
A potential upside reversal from a support level formed by the weekly S1 at 208.60 could occur during next week's trading sessions.
Author
Dukascopy Bank Team
Dukascopy Bank SA
Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.
